Silgan Holdings Inc. Stock Forecast
Evaluation of Silgan Holdings Inc. stock downgraded after the last trading session.
(Updated on May 03, 2024)
The Silgan Holdings Inc. stock price gained 1.96% on the last trading day (Friday, 3rd May 2024), rising from $45.39 to $46.28. During the last trading day the stock fluctuated 0.94% from a day low at $45.87 to a day high of $46.30. The price has been going up and down for this period, and there has been a -2.36% loss for the last 2 weeks. Volume fell on the last day by -758 thousand shares and in total, 586 thousand shares were bought and sold for approximately $27.13 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.60% during the next 3 months and, with a 90% probability hold a price between $48.70 and $54.70 at the end of this 3-month period.
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SLGN Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.49%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Silgan Holdings Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $46.33 and $46.85. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Silgan Holdings Inc. stock
Silgan Holdings Inc. finds support from accumulated volume at $45.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.430 (0.94%) between high and low. For the last week, the stock has had daily average volatility of 2.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SLGN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Silgan Holdings Inc. to open at $46.15, and during the day (based on 14 day Average True Range), to move between $45.24 and $47.32, which gives a possible trading interval of +/-$1.04 (+/-2.24%) up or down from last closing price. If Silgan Holdings Inc. takes out the full calculated possible swing range there will be an estimated 4.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $45.39 (1.92%) than the resistance at $48.56 (4.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Silgan Holdings Inc. stock A Buy?
The Silgan Holdings Inc. stock holds several negative signals and despite the positive trend, we believe Silgan Holdings Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.449 Sell Candidate Downgraded
Predicted Opening Price for Silgan Holdings Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $46.15 ( 0.281%) | $46.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLGN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.58 | 0.648 % | |
| R2 | 46.42 | 0.293 % | ||
| R1 | 46.31 | 0.0740 % | ||
| Current price: | 46.28 | |||
| Support | S1 | 45.99 | -0.636 % | |
| S2 | 45.88 | -0.86 % | ||
| S3 | 45.72 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.14 | 6.18 % | |
| R2 | 48.67 | 5.16 % | ||
| R1 | 48.56 | 4.93 % | ||
| Current price | 46.28 | |||
| Support | S1 | 45.39 | -1.92% | |
| S2 | 44.72 | -3.37% | ||
| S3 | 44.52 | -3.80% |
SLGN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.190 | 0.391% |
| 2 | Oct 31, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.180 | 0.407% |
| 3 | Aug 01, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.180 | 0.409% |
| 4 | May 01, 2023 | May 31, 2023 | Jun 15, 2023 | $0.180 | 0.379% |
| 5 | Feb 21, 2023 | Mar 16, 2023 | Mar 31, 2023 | $0.180 | 0.335% |
FAQ
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